MarketPredictionPrice Analysis

Dogecoin Price Prediction Forecast — How Much Will DOGE Be Worth This Year?

  • Bullish DOGE price prediction 2021 is up to $1.5.
  • Bearish DOGE price prediction 2021 is $.007.

This Dogecoin Price Prediction 2021 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our DOGE price analysis and prediction.

Dogecoin is one of the cryptocurrencies in the crypto world that continues to make noise. As a result, the investors around the world are now closely monitoring the progress of the controversial cryptocurrency. In terms of trading volume, DOGE trades an average of $5 billion per day.

Furthermore, the DOGE cryptocurrency is also famous in the Reddit community. For this reason, many participants of Reddit tend to join the Dogecoin craze lately. In addition, the massive participation of Reddit users has influenced the price of the crypto lately.

In short, DOGE price boosted a whopping +204% in the past 14 days, an increased rate favored by investors.

Now that we are familiar with Dogecoin, do you think DOGE can continue its uptrend position this year? Are you already interested? Therefore, join me and let us head to the charts in this CoinQuora Dogecoin price analysis and price prediction 2021.

DOGE Price Analysis 2021

DOGE continues to surprise the crypto world with its continuous price surge in the past few days. Consequently, the crypto ranks as one of the top 20 cryptocurrencies in CoinGecko.

Do you think this is enough to convince more traders to invest in the platform? Are you curious enough? Hence, let us head to the chart in this DOGE price analysis 2021.

DOGE Uptrend position
DOGE Uptrend position (Source: TradingView)

The graph above displays how DOGE maintains its uptrend position against the crypto world’s wild market swings. Also, the chart above shows how DOGE boosted its price from $.0035 in December 2020 to $.0105 in Jan 2021. For this reason, the DOGE coin has achieved an increased rate of over +300%, a rate level favored by investors.

Currently, DOGE reached a high of $.031 with a growth rate of +213.7% in the last 14 days. If this trend continues, the price of the crypto might go beyond its $.05 resistance level. Truly, there is a big chance that this will happen if the investors continue to put their faith in Dogecoin.

DOGE Fibonacci Retracement
DOGE Fibonacci Retracement (Source: TradingView)

In terms of the Fibonacci retracement indicator, DOGE resides under the Fibonacci level of 0.618, a decent position. However, if the crypto opens its price below the Fibonacci level of 0.786, the DOGE price might fall. In short, the price of the crypto might break out from its uptrend position and drop to $.0070.

DOGE RSI
DOGE RSI (Source: TradingView)

When it comes to trading, the traders must not overlook the relative strength index (RSI) of the crypto. In other words, traders must notice that the RSI of the crypto is nearly overbought. In this case, traders, especially scalp and day traders, must trade with caution to avoid price reversal risk.

Dogecoin Price Prediction 2021

Recently, the Dogecoin price spiked to almost +500% in the past 30 days. For this reason, the market capitalization of the crypto boosted to almost $4 billion.

Would this market performance be enough to make DOGE a profitable crypto in 2021? Are you already interested in finding out? Join me, and together, let us find out in this Dogecoin price prediction 2021.

DOGE Uptrend position
DOGE Uptrend position (Source: TradingView)

Based on the graph above, DOGE continues to rally its price beside the bears. Today, DOGE trades at a high price of $.031 with a growth rate of +238.9% in the past 7 days. If this keeps on, DOGE might exceed $.051 and regain its position near $.088. Granted that, DOGE may break the resistance level of $.88 and reach the price of $.10, a bullish price.

Furthermore, the price of DOGE can even go higher than $.10 and touch the bullish price of $1 to $1.5. Of course, this is most likely to happen if the crypto market investors continue to trust the crypto.

However, if the bullish market turns against the crypto, DOGE might break out from its bullish position. In short, the DOGE price may fall to almost $.02, a price level that could trigger FUD among investors.

In this case, DOGE must regain its composure and trade its price above Arnaud Legoux Moving Averages (ALMA). Otherwise, the bears might overcome their market position and drag down the crypto price to $.007, a bearish territory.

Let’s also check the MACD to conclude our Dogecoin price prediction.

DOGE Price Prediction 2021 -MACD

DOGE MACD
DOGE MACD (Source: TradingView)

Meanwhile, the moving average convergence/divergence (MACD) of the crypto remains on top of the signal indicator. Hence, traders can still expect more bullish days ahead.

On the other hand, if MACD performs a bearish crossover and resides below the signal indicator, it will be a different story. In terms of trading position, scalping and day traders can still trade with confidence for as long as MACD resides above the signal indicator and the crypto price moves above ALMA.

In conclusion, bullish Dogecoin price prediction 2021 is from $1 to $1.5. Meanwhile, bearish Dogecoin price prediction is $0.02.

FAQs

Can Dogecoin ever hit $1?

In terms of market position, the crypto has over $3.5 billion in market capitalization. If this uptrend continues, there might be a chance for DOGE to reach the bullish price of $1.

Where to trade Dogecoin?

Traders can buy, sell and trade Dogecoin in exchanges such as Binance, OKex, Digifinex and Huobi Global to name some.

Does Elon Musk support Dogecoin?

Recently, Elon Musk’s memes about Dogecoin flooded social media. As a result, DOGE price skyrocketed to over +300% in the past 30 days.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies. 

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Jay Manila

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.

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